Slowdown in property launches in M'sia

Wong says there will be a reduction in property transactions this year.

PETALING JAYA: Property launches and sales will soften this year, as the market gravitates towards the actual impact of the 2014 budgetary measures, property consultants concur.

Managing director of property consultancy VPC Alliance Malaysia Sdn Bhd James Wong said with the cooling measures in Budget 2014, sales volumes would drop and the property market would soften, particularly the sales of condominium prices ranging from RM750,000 to RM1mil, which are targeted at foreigners.